Slope Wallets Blamed for Solana Hack

Solana

There has been a race to figure out who made the hack on Solana, which has suffered attacks by bad actors with several million dollars worth of crypto stolen by unknown bad actors. Now, wallets are still being drained, but at a slower rate.

Solana’s security team has spent time and resources, and it is like the culprit has been found.

Though the attack targeted Solana users, it appears that Solana is not at fault; rather, the blame reportedly lies with Slope.

So far, Solana has confirmed that the issue only affects Slope’s hot wallets, as no hardware wallets have been targeted.

Solana developers recommend that all Slope users generate a new seed phrase, regardless of the type of wallet they were using.

 “Create a new and unique seed phrase wallet, and transfer all assets to this new wallet. Again, we do not recommend using the same seed phrase on this new wallet that you had on Slope. If you are using a hardware wallet, your keys have not been compromised.”

“We are still actively diagnosing and are committed to publishing a full post-mortem, earning back your trust, and making this as right as we can.” They further stated

It was initially assumed during the investigation that the issue was more widespread since Phantom wallets were also drained. However, it became obvious that the Phantom wallets getting exploited were not full users.

“If you’ve used Slope at all, consider those wallets burned. Nothing yet to indicate Phantom itself has had an issue, though it’s interesting that there haven’t been reports of users on Solflare who used their seed on Slope as well, while there’ve been many with Phantom.”

The drained Phantom wallets had also used Slope, as confirmed by Austin Federa, the head of communications at Solana. This statement was confirmed by Phantom developers, who recommended that Phantom users who created their wallets with Slope send their funds to a non-Slope wallet.

Reports are also coming in that the breach of the Solana network reportedly occurred due to Slope logging seed phrases on their servers.

This cybersecurity malpractice appears to have led to about 9000 wallets being drained of multiple cryptocurrencies, with the largest amounts being SOL and USDC.

The investigation continues.

You might also like: Ongoing Solana-Based Hack Compromises Thousands of Wallets!

This Post Has 3 Comments

  1. Suivre Téléphone

    Suivre le téléphone portable – Application de suivi cachée qui enregistre l’emplacement, les SMS, l’audio des appels, WhatsApp, Facebook, photo, caméra, activité Internet. Idéal pour le contrôle parental et la surveillance des employés. Suivre le Téléphone Gratuitement – Logiciel de Surveillance en Ligne.

  2. Suivre le téléphone

    Meilleure application de contrôle parental pour protéger vos enfants – Moniteur secrètement secret GPS, SMS, appels, WhatsApp, Facebook, localisation. Vous pouvez surveiller à distance les activités du téléphone mobile après le téléchargement et installer l’apk sur le téléphone cible. https://www.mycellspy.com/fr/

  3. Elizabeth

    Wow, incredible blog layout! How long have you ever been running a
    blog for? you made blogging glance easy. The overall look of your web site is fantastic, as neatly
    as the content! You can see similar here najlepszy sklep

Leave a Reply

Important Link

Fund Your Deriv Account
Withdraw Funds to Your Local Currency
VIP Trading Signals
Learn To Trade

Contact Us

Follow Us

Disclaimer

Forex, Crypto, Options, and Binary Options have both large potential rewards and large potential risks. Therefore, before investing or trading any of the assets, ensure you are aware of and willing to accept the accompanying risks. Do not trade money you cannot afford to lose.

All Rights Reserved. None of the content of this website can be published elsewhere by any means without the prior consent of the owner(s). Please, check our terms & conditions and privacy policy before continuing to use this website.

This website and its owner(s) are not in any way liable for any incurred loss, whether caused by the information provided on this website or otherwise. The use of this website, including the content and information provided, is the user’s sole liability.